Pakistani PM meets Macron in Riyadh, invites him to invest in climate adaptation, renewable energy
Pakistani PM meets Macron in Riyadh, invites him to invest in climate adaptation, renewable energy/node/2581731/pakistan
Pakistani PM meets Macron in Riyadh, invites him to invest in climate adaptation, renewable energy
Pakistan Prime Minister Shehbaz Sharif speaks during a bilateral meeting with French President Emmanuel Macron on the sidelines of the One Water Summit in Riyadh on December 3, 2024. (Photo courtesy: PMO)
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday held a bilateral meeting with the president of France, Emmanuel Macron, on the sidelines of the One Water Summit in Riyadh and invited him to explore investment opportunities in Pakistan, particularly in the domains of climate adaptation and renewable energy.Ā
As the South Asian nation, one of the most vulnerable countries to climate change, pursues external financing avenues, its government is seeking to focus on more sustainable forms such as direct investment and climate financing.
āPrime Minister stressed upon the need to further strengthen mutually advantageous economic and trade ties between the two countries and encouraged France to take advantage of investment opportunities in Pakistan, especially in areas of climate adaptation and renewable energy,ā Sharifās office said in a statement after he met Macron.Ā
Pakistan Prime Minister Shehbaz Sharif speaks during a bilateral meeting with French President Emmanuel Macron on the sidelines of the One Water Summit in Riyadh on December 3, 2024. (Photo courtesy: PMO)
āBoth leaders agreed to enhance Pakistan France cooperation especially through the business to business contacts in the areas of agriculture, livestock, IT, skills development and clean drinking water.ā
The statement said the two leaders exchanged views on the āfull spectrum of Pakistan-France relationship, including political, economic, trade and investment, as well as cooperation at multilateral forums, including the United Nations.ā
PakistanāFrance relations span the military, defense, cultural, educational cooperation, and economic domains. Pakistani exports to France stood at $484.79 million during 2023, according to the United Nations COMTRADE database on international trade, while Pakistan imported were at $254.85 million.
Pakistan and France also have had a long-standing military relationship, with France being a key partner in enhancing the capabilities of Pakistanās navy and air force. France and Pakistan began their military relationship in 1967 when France sold Pakistan its first batch of Mirage fighters and submarine technology. In 1990, Pakistan bought a second batch of Mirage fighters, and in 1996, the two countries signed a contract for 40 reconnaissance aircraft.Ā
In February 2023, Pakistan and France signed a roadmap to deepen their defense and security cooperation, including on counter-terrorism.
PIA repatriates 107 Pakistanis stranded in Iran as regional tensions ground flights
Iranian airspace was shut to commercial traffic on June 13 following Israeli airstrikes on Iran and heightened fears of wider conflict
Several international carriers, including PIA, suspended or rerouted flights passing through Iranian airspace, stranding visitors and expatsĀ
Updated 19 sec ago
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KARACHI: A special PIA flight carrying 107 Pakistanis who had been stranded in Iran landed in Islamabad early Tuesday, the national carrier said, after regional airspace disruptions forced days-long travel delays and overland detours.
Flight PK-9552, arranged under government instructions, departed from the Turkmen capital of Ashgabat and arrived at Islamabad International Airport at 3am, PIA said in a statement.
The passengers had crossed into Turkmenistan by road after being unable to depart directly from Iran due to ongoing airspace restrictions following the start of a war between longtime Middle Eastern enemies Israel and Iran since Friday. The two rivals launched new missile strikes at each other on Wednesday as the air war between them entered a sixth day despite a call from US President Donald Trump for Tehranās unconditional surrender.
āDue to the closure of Iranian airspace, Pakistani nationals in Iran had to reach Turkmenistan through ground routes,ā PIA said, adding that the repatriation was coordinated by Pakistanās embassies in Tehran and Ashgabat.
āOur missions in Iran and Turkmenistan played a key role in facilitating this process,ā PIA added.
Passengers stranded in Iran were mostly short-term visitors, religious pilgrims and workers caught in the fallout of recent regional hostilities.
Iranian airspace was shut to commercial traffic last week amid rising military tensions, following Israeli airstrikes on Iran and heightened fears of a wider conflict. Several international carriers, including PIA, suspended or rerouted flights passing through Iranian airspace. Pakistani citizens thus found themselves unable to return home through normal flight routes.
A PIA spokesperson said the national carrier took action āin continuation of its decades-long tradition of serving national interest in difficult times.ā
While no official figures have been released on how many Pakistanis remain in Iran, foreign ministry officials have confirmed that further evacuations could be arranged if the situation worsens. The foreign ministry has also said diplomatic missions were āin close contact with local authoritiesā to ensure the safety of all nationals.
ISLAMABAD: Pakistanās Defense Minister Khawaja Asif said on Monday Islamabad had not engaged in any new military cooperation with Tehran since Israel launched attacks on Iran last week and had not held specific talks with the United States over the escalating crisis in the Middle East.
Iran, which borders Pakistan, has hit back with strikes against Israel after it unleashed waves of attacks on Friday at Iranian nuclear installations, missile stockpiles, scientists, and military generals, among other targets, sparking global alarm that the conflict could erupt into a regional war.
The latest escalation follows months of hostilities between Israel and Iranian-backed groups in Lebanon, Syria and Yemen, which intensified after the war in Gaza was launched late in 2023. Regional powers fear a direct confrontation could spiral into a broader conflict involving major oil shipping lanes and global energy supplies. For Pakistan, a close Iranian neighbor and a longtime opponent of Israel, a prolonged conflict risks disrupting border security, inflaming sectarian tensions at home, and possibly putting it in a tight spot with other Arab allies and the West.
Speaking in an interview to Arab News, Asif said regular security cooperation was continuing with Iran along their shared border to combat militant groups, but no fresh operational coordination had been initiated in response to Israelās attacks on Iranian territory since June 13.
āI donāt see any need of [it],ā the defense minister said in response to a question on whether Pakistanās military was coordinating with Iranian counterparts on the border or engaging in any fresh defense cooperation.
āWe coordinate on a very regular basis as far as the Iran and Pakistan border is concerned because of terrorist activities⦠that sort of cooperation is already on. So I donāt see any new activity.ā
Asked if Pakistan had held talks with Washington to discuss the fast-evolving situation, the defense minister said there had been no recent contact specifically on the crisis in the past five days:
āBut we are in constant touch with the United States of America regarding the tense situation we have in this region.ā
Asif said Pakistanās leadership was instead focused on engagement with close partners like China and Muslim countries to press for calm, warning that the conflict risked engulfing the entire region.
āThe countries who have religious affinity with us or geographical affinity, even China or other countries, because what we are pursuing is peace,ā he said.
āAnd we would like to mobilize the countries of this region that this conflict can multiply and it can engulf the whole region into a situation which could be very, very disastrous.ā
Smoke rises from a fire, as the Israel-Iran air war continues, in Tehran, Iran, in this still image obtained from social media video released June 17, 2025. (Social Media via REUTERS)
NUCLEAR FACILITIES āMILITANTLY GUARDEDā
Diplomatic and security experts warn that the Israel-Iran hostilities could affect Pakistan by destabilizing its western border with Iran, threatening energy imports as oil prices surge, and creating new pressures in Pakistanās relations with the US and Gulf partners if Islamabad is seen as tilting too far toward Tehran. On the other hand, if Tehran were to fall or be severely weakened, analysts say Pakistan would likely side with the United States and its allies ā despite being Iranās immediate neighbor ā to protect its strategic and economic interests.
Addressing concerns over past remarks by Israeli Prime Minister Benjamin Netanyahu that have drawn parallels between Iran and Pakistan as so-called āmilitant Islamic regimesā that needed to be deterred, Asif rejected any immediate threat to Pakistan from Tel Aviv but stressed Islamabad would remain vigilant.
āIf we are threatened by Israel, which I will discount at the moment⦠what happens in the coming months or years I canāt predict, but at the moment I discount [a threat from Israel],ā he said.
Pakistanās Defense Minister Khawaja Asif speaks with Arab News Pakistan in Islamabad, Pakistan, on June 17, 2025. (AN photo)
He described Israel as a state with āhegemonic intentā whose recent actions in Gaza and against Iran were āextremely dangerous to the immediate region,ā and said global public opinion was turning against Israeli policies despite support or muted reactions from many Western governments.
Asif declined to comment on reports that Pakistan had scrambled fighter jets near its nuclear sites and the Iranian border in response to Israelās initial strikes on Iran but insisted that its nuclear security remained robust.
In addition to the Middle East tensions, Pakistan faced a major military standoff with India last month in which the two nations exchanged missile, drone and artillery attacks. Islamabad claimed to have shot down six Indian jets and struck back at military positions, triggering fears of a wider conflict between the nuclear-armed rivals before a ceasefire was announced by the President Donald Trump administration on May 10.
When questioned about any direct threat to Pakistanās national security or strategic assets as a result of the conflict in the Middle East, the defense minister said Pakistanās armed forces were already on high alert following the latest confrontation with New Delhi, describing the countryās nuclear facilities as āvery militantly guarded, very grudgingly guardedā and fully compliant with international safeguards.
āSince our short war with India [in May], we have been on alert so we have not lowered guards⦠We can never take the risk of any attack on our nuclear facility from anywhere, that is something which is a lifeline as far as our defense is concerned,ā he said
Asif said Pakistanās performance in the recent fight with India was evidence of the countryās defense capability and national resolve, which would deter Israel from any adventurism.
āWe have just had a bout with India and we clearly established our superiority, the superiority of our armed forces, Air Force, Pakistan Army, Pakistan Navy and the determination of our people, the way the nation stood behind the armed forces,ā the defense minister said.
āSo I think Netanyahu or his people or his government will think many times before taking on Pakistan.ā
ISLAMABAD: Pakistan has started evacuating families of its diplomats and staff, as well as members of some non-essential staff from Iran, a senior foreign ministry official confirmed on Tuesday as Tehranās military conflict with Israel intensifies.
Thousands of residents of Iranās capital Tehran are reportedly fleeing their homes and stockpiling essential supplies out of fear that Israel will intensify its strikes against regional foe Iran in the coming days.
Iran and Israel have been locked in military conflict since Friday when the latter attacked the formerās nuclear facilities and military leadership in a bid to prevent it from developing nuclear weapons. Israelās strikes have killed at least 224 people in Iran while Tehran has retaliated by launching more than 370 missiles and hundreds of drones at Israel. So far, 24 people have been killed in Israel and more than 500 wounded.
āThe foreign ministry is moving out families of diplomats and staff and some non-essential staff from Iran,ā the official, who requested anonymity as they were not authorized to speak to media, said in a statement.
āHowever Pakistan embassy in Tehran and our consulates will continue to remain functional.ā
Pakistan has been repatriating hundreds of its citizens from Iran and Iraq since the conflict began last week. Thousands of Pakistani zaireen (pilgrims) travel annually to Iran and Iraq to visit holy sites there. Many were left stranded since Friday as airspaces closed following Israelās attacks.
Pakistan repatriated 268 nationals from Iraq via two flights on Monday while on Sunday, it evacuated 450 nationals from Iran.
Pakistan has condemned Israelās strikes, calling them an unjustified violation of Iranian sovereignty, and has urged the international community to help de-escalate tensions through dialogue.
ISLAMABAD: A facilitation center set up by the Pakistani government in Makkah for this yearās Hajj resolved over 30,000 complaints filed by pilgrims, the religion ministry said on Tuesday.
This yearās Hajj took place from June 4 to June 9, drawing millions of pilgrims to the holy cities in ŗ£½ĒÖ±²„. Pakistan sent over 115,000 pilgrims under both the government and private schemes.
Ayesha Ijaz, the person in charge of the facilitation center in Makkah, told Pakistanās religious affairs ministry that the center has been specially set up to help Pakistani pilgrims in ŗ£½ĒÖ±²„.
āThe facilitation center established by the Government of Pakistan in Makkah to provide exemplary facilities to Pakistani pilgrims during and after Hajj 2025 has successfully resolved over 30,000 complaints,ā the Ministry of Religious Affairs (MoRA) said.
It said thousands of Pakistani Hajj pilgrims were provided immediate assistance related to travel issues, lost tickets, accommodation, food and other important matters.
āThe center operates round the clock and has various special departments, including the Departure Cell, Zong Desk, Maktab Desk, Madinah Departure Cell, Complaints Cell and 24/7 Call Center,ā Ijaz said.
Hafiz Obaidullah Zakaria, who is in charge of the Complaints Cell, said 30,147 complaints have been registered so far related to Hajj 2025.
āOf these, 2,446 complaints were resolved within 24 hours, 113 are under process, while 580 complaints were declared inauthentic,ā he was quoted as saying by the religion ministry.
The religion ministry said this year, multiple channels were provided to pilgrims for registering complaints, including a 24-hour call center, WhatsApp, toll-free numbers and other platforms.
It said the number of complaints had been reduced significantly, which reflected impressive arrangements undertaken by the government.
āThe timely actions of the facilitation center and effective complaint management have set a new precedent for Hajj operations, which has been appreciated not only by the authorities but also by the pilgrims,ā the ministry said.
The last Pakistani flight carrying Hajj pilgrims back to the country is scheduled to arrive on July 10.
Provincial court delivers Pakistanās first-ever conviction for insider trading
SECP says bank official misused insider information related to investment, disinvestment decisions for āpersonal gainā
Financial regulator says court slaps $30,380 penalty on convict, with the amount to be deposited within seven days
Updated 17 June 2025
ISMAIL DILAWARĀ
KARACHI: A Pakistani court recently handed its first-ever conviction for insider trading, the Securities and Exchange Commission of Pakistan (SECP) said on Tuesday, hailing the judgment as one which will boost investorsā confidence in the countryās capital markets.
Insider trading refers to the practice of buying or selling a publicly traded companyās securities while in possession of material information that is not yet public information. The SECP said it had filed a case against Zakir Hussain Somji, assistant vice president of investments at Habib Metropolitan Bank (HMB) Limited, after inspecting suspicious trading activity from Jan. 1, 2014, to Feb. 2, 2016.
The regulator said it was suspected that the accused, through his position at HMB, misused insider information related to the bankās investment and disinvestment decisions for personal gain. The SECP said a probe revealed Somji bought 11,795,100 shares of various companies, including 1,230,900 shares (10.43 percent) acquired from HMB. He sold 11,836,600 shares ā 4,915,200 (41.52 percent) of which were sold back to HMB, earning an āunlawful profitā of Rs2,866,646 [$10,116.39].
āSindh Special Court (Offences in Banks) handed out first ever conviction for insider trading in the history of Pakistan in a case filed by The Securities and Exchange Commission of Pakistan (SECP),ā the regulator said.
It said Somji had been convicted by the court on June 14 for violating provisions of Section 128 of the Securities Act, 2015, which related to insider trading.
The regulator said the court slapped Somji with a penalty of Rs 8,599,938 [$30,380] which was three times the āunlawful gain.ā
āThe amount is to be deposited within seven days, failing which the convict will be remanded to jail until full payment is made,ā the SECP said.
The regulator said the judgment reaffirms SECPās mandate to ensure market integrity and investor protection.
āIt sets a strong precedent for future enforcement actions and sends a clear message that market abuse and regulatory violations shall not be tolerated,ā it added.